Part 601 Preferred Lender Arrangements

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1845-0101 Part 601 State, Local, or Tribal Governments	Form and Instruction	New	Available
Form 1845-0101 Part 601 Not-for-Profit affected Party	Form and Instruction	New	Available
Form 1845-0101 Part 601 For-Profit affected party	Form and Instruction	New	Available
Form 1845-0101 Part 601 Individual affected party (Borrower)	Form and Instruction	Modified	Available
30D_FRN_1845-0101.pdf	Supplementary Document	Uploaded 2013-02-27	Available
State Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
State Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
State Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
State Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Repair queued
State Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
Private Institutions Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
For-Profit Institutions Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
1845-0101v2 Burden Table 30 day comment period.xls	Supplementary Document	Uploaded 2013-02-22	Repair queued
1845-0101v2 Burden Table 30 day comment period.xls	Supplementary Document	Uploaded 2013-02-22	Available
1845-0101v2 Burden Table 30 day comment period.xls	Supplementary Document	Uploaded 2013-02-22	Available
Individual Affected Party Information 1845-0101 v2.doc	Supplementary Document	Uploaded 2013-02-27	Available
suppstatptA 1845-0101 v2 30 day comment period rev.docx	Supporting Statement A	Uploaded 2013-02-28	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
205978	Part 601 State, Local, or Tribal Governments	Form and Instruction	New
205977	Part 601 Not-for-Profit affected Party	Form and Instruction	New
205976	Part 601 For-Profit affected party	Form and Instruction	New
191644	Section 601.40 - Lender Responsibilities	Other-Regulations	Removed
191643	Section 601.21 - Code of Conduct	Other-Regulations	Removed
191642	Section 601.20 - Annual Report	Other-Regulations	Removed
191624	Part 601 Individual affected party (Borrower)	Form and Instruction	Modified
191623	Section 601.10 - Preferred Lender Arrangement Disclosures	Other-Regulations	Removed

ICR Details

OMB Control No: 1845-0101	ICR Reference No: 201302-1845-005
Status: Historical Active	Previous ICR Reference No: 200912-1845-001
Agency/Subagency: ED/FSA	Agency Tracking No: 1465.03
Title: Part 601 Preferred Lender Arrangements
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/08/2013
	Date Received in OIRA: 02/28/2013
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2016	36 Months From Approved	05/31/2013
Responses	16,576,360	0	13,674,883
Time Burden (Hours)	3,384,103	0	3,197,761
Cost Burden (Dollars)	0	0	0

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Abstract: Part 601 - Institution and Lender Requirements Relating to Education Loans is a section of the regulations governing private education loans offered at covered institutions by lenders also participating in the FFEL program. These regulations assure the Secretary that the integrity of the program is protected from fraud and misuse of program funds and places requirements on institutions and lenders to insure that borrowers receive additional disclosures about Title IV, HEA program assistance prior to obtaining a private education loan. These regulations require covered institutions to provide a variety of new loan disclosures, disclosures on private loans,for institutions to prepare and submit an annual report on the use of private loans, and to establish and adopt a code of conduct for institutions participation in a preferred lender arrangement. The Department, in conjunction with outside entities are submitting the Private Education Loan Applicant Self-Certification form for OMB's approval. While information about the applicant's cost of attendance and estimated financial assistance must be provided to the student, if available, the student will provide the data to the private loan lender who must collect and maintain the self-certification form prior to disbursement of a Private Education Loan. The Department will not receive the Private Education Loan Applicant Self-Certification form and therefore will not be collecting and maintaining the form or its data.

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Authorizing Statute(s): US Code: 20 USC 1019-1019d Name of Law: Higher Education Act of 1965, as amended
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 152 2201 Name of Law: Health Care and Education Reconciliation Act of 2010

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	77 FR 77051	12/31/2012
30-day Notice:	Federal Register Citation:	Citation Date:
	78 FR 13330	02/27/2013
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 4

table that charts list of burden

IC Title	Form No.	Form Name
Part 601 Individual affected party (Borrower)	1845-0101, 1845-0101	Private Education Loan Applicant Self-Certification ,   Private Education Loan Applicant Self-Certification
Part 601 For-Profit affected party	1845-0101, 1845-0101	Private education Loan Application Self-Certification ,   Private education Loan Application Self-Certification
Part 601 Not-for-Profit affected Party	1845-0101, 1845-0101	Private education Loan Application Self-Certification ,   Private education Loan Application Self-Certification
Part 601 State, Local, or Tribal Governments	1845-0101, 1845-0101	Private education Loan Application Self-Certification ,   Private education Loan Application Self-Certification
Section 601.21 - Code of Conduct
Section 601.20 - Annual Report
Section 601.40 - Lender Responsibilities
Section 601.10 - Preferred Lender Arrangement Disclosures

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	16,576,360	13,674,883	2,901,477	0	0	0
Annual Time Burden (Hours)	3,384,103	3,197,761	186,342	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Department is requesting a revision of the current information collection. There has been no changes to the required reporting or recordkeeping requirements of the Institution and Lender Requirements Relating to Education Loans. We have calculated an increase in burden due to a change in statute. The authority for lenders to make new loans under the Federal Family Education Loan program was terminated as of July 1, 2010 as a result of the Student Aid and Fiscal Responsibility (SAFRA) Act that was included in the Public Law 111-152, the Health Care and Reconciliation Act of 2010 (HCERA). We are calculating burden in this collection for institutions who had previously participated in the FFEL program who may now only participate in the Direct Loan program and those who previously participated in the Direct Loan program only.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 02/28/2013

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